Guideline Value for Krishna Nagar 2nd Street

Krishna Nagar 2nd Street guideline value

The current guideline value of Krishna Nagar 2nd Street is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Porur village, under the Kunrathur SRO, and is classified as Residential Special Type - II.

How the guideline value of Krishna Nagar 2nd Street has changed

Since the 2012 revision, the guideline value for Krishna Nagar 2nd Street has seen various changes. In 2012, the guideline value was Rs 3,200 per sq.ft, which then decreased to Rs 2,144 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,200 per sq.ft in 2023, and then rose to Rs 3,520 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

To summarize the changes, from 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 2,860 to Rs 6,380 per sq.ft, with a median value of Rs 3,960 per sq.ft. The guideline value for Krishna Nagar 2nd Street is below this median.

• Krishna Nagar 1st Street: Rs 3,520 per sq.ft (2024)
• Krishna Nagar 3rd Street: Rs 3,520 per sq.ft (2024)
• Krishna Nagar: Rs 3,520 per sq.ft (2024)
• Krishna Nagar Main Road: Rs 3,520 per sq.ft (2024)
• Krishna puram: Rs 3,520 per sq.ft (2024)
• Krishna Street: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, making the total fees together Rs 3,16,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Krishna Nagar 2nd Street?

The Sub Registrar Office that covers Krishna Nagar 2nd Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Porur

The guideline value is a critical factor in the registration process when buying or selling property in Porur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that transactions are conducted transparently and fairly.

When a buyer purchases property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions while also protecting the interests of buyers and sellers.

Frequently asked questions

What is the current guideline value of Krishna Nagar 2nd Street?

The current guideline value of Krishna Nagar 2nd Street is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,200 per sq.ft in 2012 to Rs 2,144 per sq.ft in 2017, then increased to Rs 3,200 per sq.ft in 2023, and finally to Rs 3,520 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Krishna Nagar 2nd Street?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 3,16,800.

Which Sub Registrar Office covers Krishna Nagar 2nd Street?

The Kunrathur Sub Registrar Office covers Krishna Nagar 2nd Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Krishna Nagar 2nd Street?

Krishna Nagar 2nd Street is classified as Residential Special Type - II, indicating its designated use for residential purposes.